Gator Incorporated reported taxable income of $1,500,000 this year and paid federal income taxes of $500,000. Included in the company's computation of taxable income is a $98,500 gain from the sale of a depreciable asset with an income tax basis of $197,000. The income tax basis of the asset was $197,000. The E&P basis of the asset using the alternative depreciation system was $339,900. Compute the company's current E&P. Note: Negative amount should be indicated with a minus sign. Answer is complete but not entirely correct. Taxable income $ 1,500,000 Federal income taxes (500,000) Regular tax gain from sale of asset (98,500) E&P loss from sale of asset (44,400) Current E&P $ 857,100